GERMANY: Houghton Speaks

Alanson B. Houghton, U. S. Ambassador to Germany, home on leave, spoke at Chicago about Germany. The burden of his speech was that the Experts' Plan stood between Germany and utter ruin. He stressed the importance of the loan to Germany (see REPARATIONS).

"Today, we find in Germany and elsewhere a frightful lack of available and active capital. The factories are thereĀ—the men, the management; but the capital to put these forces at work is not there and must in some way be provided if Germany is to have an opportunity to function normally....

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